The game begins when a wanderer named Bartz investigates a fallen meteor. He meets several characters. One tells him about the danger the four Crystals that control the world's elements. These Crystals act like a seal on Exdeath. Exdeath is an evil magician. Bartz and his friends have to keep the Crystals from being used by Exdeath.

Final Fantasy V has been praised for its character customization. This is possible because of the large Job System. The first Super Famicom version sold more than two million copies. The PlayStation version has earned "Greatest Hits" status. It has sold more than 350,000 copies.